72
72
Jan 23, 2013
01/13
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it will repeal the individual income tax, the corporate income tax, capital gains tax, all payroll taxes, the self-employment tax and the estate and gift tax, in lieu of a 23% tax on the final sale of all goods and services. elimination of these inefficient taxing mechanisms will not only bring about equality within our tax system, it will also bring about simplicity in our tax code. it will provide tax relief for business-to-business transactions. these transactions including those for used goods that have already been taxed are not subject to the sales tax, so there would be no double taxation. some of my colleagues have asked how the fair tax would affect our revenue on our entitlement programs. social security and medicare benefits would remain untouched under the fair tax act. there would be no financial reductions to either of these vital programs. instead, the source of the trust fund revenue for these two programs would be replaced simply by the sales tax revenue instead of by payroll tax revenue. another question i get is how the fair tax would affect impoverished americans. und
it will repeal the individual income tax, the corporate income tax, capital gains tax, all payroll taxes, the self-employment tax and the estate and gift tax, in lieu of a 23% tax on the final sale of all goods and services. elimination of these inefficient taxing mechanisms will not only bring about equality within our tax system, it will also bring about simplicity in our tax code. it will provide tax relief for business-to-business transactions. these transactions including those for used...
77
77
Jan 16, 2013
01/13
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CSPAN2
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the united states local officials it is tax base. without taxes there is no services. you may hate taxes and never want to pay taxes, but the bottom line is for governments of the united states, local and state governments without tax revenue you cease to provide essential services. develop the tools that give them up to look at the resiliency of their tax base hit and their exposures. understand after a disaster it is easier to make began airing changes, but in small incremental changes how you look at the changes -- decisions you're making to say that if something happens our tax base is resilient enough that we can survive it or we are so exposed in this if it happens we need to understand what the consequences me. and so the issue about rebuilding affordable housing, well, maybe it's not a good idea to rebuild it where they're most vulnerable, but you cannot sell them out of your community. this is one of the things we have seen, what i call the neglect where local officials have area of poverty. they go, that is actually pretty good land. if we can yet those folks
the united states local officials it is tax base. without taxes there is no services. you may hate taxes and never want to pay taxes, but the bottom line is for governments of the united states, local and state governments without tax revenue you cease to provide essential services. develop the tools that give them up to look at the resiliency of their tax base hit and their exposures. understand after a disaster it is easier to make began airing changes, but in small incremental changes how...
64
64
Jan 22, 2013
01/13
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CSPAN2
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eye 64
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the president got his taxes. with revenue off the table, the debate shifts to where it needs to be and should have been in the first place, and that is addressing spending reductions. just last week, fitch ratings warned that america's aaa credit rating is at risk if the congress and the president increase the debt limit but fail to enact a credible medium-term deficit reduction plan. and we can expect to see more headlines like this if we do not come together and we do not take action to deal with our country's debt obligations. in the coming days and weeks, i will be speaking in this chamber and outlining what i believe are rational steps that we need to take to get our fiscal house in order. the easy thing to do, the way congress has operated over these past two years of my service here, is to look at my fiscal situation and say well, we have more time or we can deal with this after the next election. and while i thought that was exactly the wrong tactic to take, that's what happened and there was a series of
the president got his taxes. with revenue off the table, the debate shifts to where it needs to be and should have been in the first place, and that is addressing spending reductions. just last week, fitch ratings warned that america's aaa credit rating is at risk if the congress and the president increase the debt limit but fail to enact a credible medium-term deficit reduction plan. and we can expect to see more headlines like this if we do not come together and we do not take action to deal...
78
78
Jan 23, 2013
01/13
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CSPAN2
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whenever new taxes the president is going to get, he got. the operation of law. and we are now going to focus on the real problems which is not the we tax too little, but spend too much. yes, that is where we are. >> a convention of the debt limit. passion an extension? he thinks the republicans are going to support raising the debt ceiling? >> a couple of thoughts about the debt ceiling in general. it has been used over 20 times since the 1950's. to give you some incidences, you will remember the 1997 clinton republican congress deficit reduction package. in the 1980's gramm-rudman was attached to the debt ceiling. and in august of 2011 the budget control act was attached to the debt ceiling. so it has been quite the norm to use presidential requests to raise the debt ceiling to do something about a deficit and debt. they called on senate democrats to run the senate to follow the regular water. the debt ceiling can originate in either house. the senate finance committee could generate a debt ceiling proposal. they could do it clean if they wanted to. they could
whenever new taxes the president is going to get, he got. the operation of law. and we are now going to focus on the real problems which is not the we tax too little, but spend too much. yes, that is where we are. >> a convention of the debt limit. passion an extension? he thinks the republicans are going to support raising the debt ceiling? >> a couple of thoughts about the debt ceiling in general. it has been used over 20 times since the 1950's. to give you some incidences, you...